Govt looks to widen coverage of Index of Services Production, invites feedback
MoSPI began compiling the ISP on a monthly basis for the formal services sector on a trial basis in July 2026. The exercise uses 2024-25 as the base year and was designed to provide a higher-frequency measure of services-sector performance.
The Indian government aims to broaden the scope of its monthly Index of Services Production (ISP) to better capture the nation's services economy, according to the Statistics Ministry. An approach paper has been released, inviting feedback from experts, academic institutions, central government departments, state governments, financial institutions, and other stakeholders.
The proposal seeks to widen the index's coverage to include several key sectors currently excluded from the ISP, such as education, human health, residential care, and public administration and defense. These sectors accounted for nearly 21% of services GVA in 2024-25, and their inclusion would elevate the ISP's coverage to approximately 78.4% of the total services-sector GDP.
The expanded framework is intended to provide a more accurate representation of short-term changes in the services sector, which contributes more than half of India's Gross Value Added (GVA). The feedback period for the proposal is open until October 16, 2026.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
